UK spends £2.2bn supporting coal in developing countries, and £1 bn on clear energy. So says a report by ODI and CAFOD.
30.10.15.Paris climate summit: “The world is ready for change.” So says Christiana Figueres. “We should remember that international negotiations don’t cause change, they mark it.”Profits dive at ExxonMobil and Chevron. The latter will cut its workforce by 6-7,000, up to 11% of the 64,700 global total.Cambridge chemists make super-battery breakthrough. Electrochemistry in lithium-air batteries could allow five times energy storage of today’s best batteries. Graphene involved.
29.10.15.Buddhists call for strong Paris climate deal. The first time that so many leaders of the billion Buddhists have spoken out on a global issue. They argue for a 1.5C limit to global warming.UK government yet to install any rooftop solar at all. 18 months on from “Solar Strategy”, this is the stark truth, Solar Power Portal has found.‘Extremely damaging’ UK community energy tax relief u-turn to have ‘devastating effect’. HMG continues its assault on sector with amendments to the latest finance bill.“Oil Producers Curb Megaproject Ambitions to Focus on U.S. Shale.” Exxon and Chevron are looking to smaller, supposedly safer, shale operations to generate cash, Bloomberg reports.
28.10.15.“Paris climate deal to ignite a $90 trillion energy revolution”: Telegraph. “The old fossil order is on borrowed time as China and even India join the drive for dramatic cuts in CO2 emissions.”At least 80 world leaders will attend Paris summit. Including Barack Obama, Xi Jinping, David Cameron and Narendra Modi.“Oil majors rush cuts to hit $60 breakeven”: FT. “Shell’s decision to axe a Canadian project shows extent of the downturn.”
27.10.15.“Fossil fuel companies risk plague of ‘asbestos’ lawsuits as tide turns on climate change.” UN says “It (Paris) is unstoppable. No amount of lobbying is going to change the direction.”Shell halts tar sands project. It quits the Carmon Creek facility in Alberta, writing off $2 bn. That makes 18 project cancellations in the tar sands this year.“Day Of Reckoning For U.S. Shale Will Have To Wait.” Only $450m in credit lines has been cut by banks in October, just 2%, Jefferies reports. As predicted by Art Berman.Survey shows 70% of UK solar businesses under threat from FiT cuts. The National Association of Professional Inspectors and Testers survey shows destructive impact of feed-in tariff cuts.
26.10.15.Middle East may suffer heat beyond human tolerance this century. So a new study suggests. And on a regular basis.
25.10.15.“Cash crunch clouds future for oil firms” WSJ. Big oil struggles to generate enough cash to cover spending and dividends, despite efforts to cuts billions of dollars from their budgets.Asset managers suffer as oil funds withdraw cash. Sovereign wealth funds are withdrawing billions from funds to support their own economies, and seeking cheaper investment approach.“Rarely has so much damage been done in such short a time.” So former Energy & Climate SoS Ed Davey tells Recharge. “The problem is Osborne and the motley crew backing him.”